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Selective Employment Tax
Selective Employment Tax (SET) was a weekly payroll tax in the United Kingdom. It was levied against employers at a flat rate of per man, and per woman. SET was intended to subsidise manufacturing industry from the proceeds of the services industries, to help exports. At the end of each accounting period, manufacturing companies would have their SET payments refunded, along with a 7s 6d bounty or premium per employee (SEP). The premium was withdrawn outside assisted areas (United Kingdom) in 1967, while a ''Regional Employment Premium'' was introduced payable at fixed amounts for employees still eligible for SEP. SET was designed to be a tax on those companies that did not boost UK exports. High-street bookmakers used the introduction of this tax as a reason to reduce the payout on some each-way bets (where a horse is placed in the first two or three, depending on the number of runners) from a quarter the odds to a fifth the odds. However, the previous, larger payouts were ne ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Payroll Tax
Payroll taxes are taxes imposed on employers or employees. They are usually calculated as a percentage of the salaries that employers pay their employees. By law, some payroll taxes are the responsibility of the employee and others fall on the employer, but almost all economists agree that the true economic incidence of a payroll tax is unaffected by this distinction, and falls largely or entirely on workers in the form of lower wages. Because payroll taxes fall exclusively on wages and not on returns to financial or physical investments, payroll taxes may contribute to underinvestment in human capital, such as higher education. National payroll tax systems Australia The Australian federal government ( ATO) requires withholding tax on employment income (payroll taxes of the first type), under a system known as pay-as-you-go (PAYG). The individual states impose payroll taxes of the second type. Bermuda In Bermuda, payroll tax accounts for over a third of the annual nation ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
United Kingdom
The United Kingdom of Great Britain and Northern Ireland, commonly known as the United Kingdom (UK) or Britain, is a country in Northwestern Europe, off the coast of European mainland, the continental mainland. It comprises England, Scotland, Wales and Northern Ireland. The UK includes the island of Great Britain, the north-eastern part of the island of Ireland, and most of List of islands of the United Kingdom, the smaller islands within the British Isles, covering . Northern Ireland shares Republic of Ireland–United Kingdom border, a land border with the Republic of Ireland; otherwise, the UK is surrounded by the Atlantic Ocean, the North Sea, the English Channel, the Celtic Sea and the Irish Sea. It maintains sovereignty over the British Overseas Territories, which are located across various oceans and seas globally. The UK had an estimated population of over 68.2 million people in 2023. The capital and largest city of both England and the UK is London. The cities o ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Shilling
The shilling is a historical coin, and the name of a unit of modern currency, currencies formerly used in the United Kingdom, Australia, New Zealand, other British Commonwealth countries and Ireland, where they were generally equivalent to 12 pence or one-twentieth of a Pound (currency), pound before being phased out during the 1960s and 1970s. Currently the shilling is used as a currency in five east African countries: Kenyan shilling, Kenya, Tanzanian shilling, Tanzania, Ugandan shilling, Uganda, Somali shilling, Somalia, and the ''de facto'' country of Somaliland shilling, Somaliland. The East African Community additionally plans to introduce an East African shilling. History The word ''shilling'' comes from Anglo-Saxon language, Anglo-Saxon phrase "Scilling", a monetary term meaning literally "twentieth of a pound", from the Proto-Germanic root :wikt:Reconstruction:Proto-Germanic/skiljaną, skiljaną meaning literally "to separate, split, divide", from :wikt:Reconstr ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Penny (British Pre-decimal Coin)
The United Kingdom, British £sd, pre-decimal penny was a denomination of Coins of the United Kingdom, sterling coinage worth of one Pound sterling, pound or of one Shilling (British coin), shilling. Its symbol was ''d'', from the Roman denarius. It was a continuation of the earlier Penny (English coin), English penny, and in Scotland it had the same monetary value as one Acts of Union 1707, pre-1707 Scottish shilling, thus the English penny was called in Scottish Gaelic. The penny was originally minted in silver, but from the late 18th century it was minted in copper, and then after 1860 in bronze. The plural of "penny" is "pence" (often added as an unstressed suffix) when referring to an amount of money, and "pennies" when referring to a number of coins. Thus 8''d'' is eightpence or eight pence, but "eight pennies" means specifically eight individual penny coins. Before Decimal Day in 1971, sterling used the Carolingian monetary system (£sd), under which the largest unit w ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Assisted Areas (United Kingdom)
Assisted areas in the United Kingdom are those areas selected for the application of regional policy to support employment. They date back to depressed ''special areas'' identified before WWII for specific assistance. Over time the support systems have changed, as have the designated areas. While the UK was a member of the European Union, the coverage and schemes were regulated as part of the EU's Regional policy of the European Union, regional policy. During Brexit negotiation much new grant support was suspended. From 2021 a new UK Levelling-up policy of the British government was developed. 2007-2013 map The regional policy of the European Union, assisted areas of Great Britain are based upon a map drawn up and agreed with the European Commission in October 2006. The map was approved by the European Commission in December 2006 and will run from 2007 until 2013. Under new EU guidelines, the proportion of the UK population covered by Assisted Areas has been reduced from 30.9% ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Off-track Betting
Off-track betting (or OTB; in British English, off-course betting) is sanctioned gambling on greyhound racing or horse racing outside a race track. U.S. history Before the 1970s, only the state of Nevada allowed off-track betting. Off-track betting in New York was legalized in 1970, after years of unsuccessful attempts. By the 1970s there were 100 betting parlors in New York City, and twice that number by the late 1980s. In New York City, the thought was that legal off-track betting would increase revenue while at the same time decrease illegal gambling activity, but one effect of the legalization was a decrease of revenue at racetracks. The 1978 Interstate Horseracing Act struck a compromise between the interests of horse tracks and owners, the state, and OTB parlors, and stipulated that OTB revenues were to be distributed among the tracks, the horse owners, and the state. Another stipulation was that no OTB parlor was allowed to operate within of a track. Revenues at the trac ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Each-way
An each-way bet is a wager offered by bookmakers consisting of two separate bets: a win bet and a place bet. For the win part of the bet to give a return, the selection must win, or finish first, in the event. For the place part of the bet to give a return, the selection must either win or finish in one of the predetermined places for the event, such as first place or second place. The odds paid on the place part of the bet are usually a fraction (commonly , , or ) of the win odds. The trade-off being that one has a greater chance of making one's bet in trade for getting less payoff for doing so. Examples are domestic football knockout competitions (e.g. FA Cup) where the quoted place terms may be . In horse racing in the United Kingdom, the "place" is set strictly by the Jockey Club and will depend on the size of the field (that is, how many horses are running) so that the "place" may be just 1st and 2nd, 1st 2nd and 3rd, or even 1st 2nd 3rd or 4th on a big race like the Grand ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
First Wilson Ministry
First most commonly refers to: * First, the ordinal form of the number 1 First or 1st may also refer to: Acronyms * Faint Images of the Radio Sky at Twenty-Centimeters, an astronomical survey carried out by the Very Large Array * Far Infrared and Sub-millimetre Telescope, of the Herschel Space Observatory * For Inspiration and Recognition of Science and Technology, an international youth organization * Forum of Incident Response and Security Teams, a global forum Arts and entertainment Albums * ''1st'' (album), by Streets, 1983 * ''1ST'' (SixTones album), 2021 * ''First'' (David Gates album), 1973 * ''First'', by Denise Ho, 2001 * ''First'' (O'Bryan album), 2007 * ''First'' (Raymond Lam album), 2011 Extended plays * ''1st'', by The Rasmus, 1995 * ''First'' (Baroness EP), 2004 * ''First'' (Ferlyn G EP), 2015 Songs * "First" (Lindsay Lohan song), 2005 * "First" (Cold War Kids song), 2014 * "First", by Lauren Daigle from the album '' How Can It Be'', 2015 * "First", ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Value Added Tax (United Kingdom)
In the United Kingdom, the value added tax (VAT) was introduced in 1973, replacing Purchase Tax, and is the third-largest source of government revenue, after income tax and National Insurance. It is administered and collected by HM Revenue and Customs, primarily through the Value Added Tax Act 1994. VAT is levied on most goods and services provided by registered businesses in the UK and some goods and services imported from outside the UK. The default VAT rate is the standard rate, 20% since 4 January 2011. Some goods and services are subject to VAT at a reduced rate of 5% (such as domestic fuel) or 0% (such as most food and children's clothing). Others are exempt from VAT or outside the system altogether. VAT is an indirect tax because the tax is paid to the government by the seller (the business) rather than the person who ultimately bears the economic burden of the tax (the consumer). Opponents of VAT claim it is a regressive tax because the poorest people spend a higher p ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Heath Ministry
Edward Heath of the Conservative Party formed the Heath ministry and was appointed Prime Minister of the United Kingdom by Queen Elizabeth II on 19 June 1970, following the general election of the previous day. The Heath ministry ended after the February 1974 general election, which produced a hung parliament, leading to the formation of a minority government by Harold Wilson of the Labour Party. Heath had been elected Leader of the Conservative Party in 1965 – succeeding Alec Douglas-Home – within a few months of the party's election defeat after 13 years in government. In the following year, his first general election as Leader resulted in defeat as Wilson's Labour government increased its majority. The Conservatives enjoyed a surge in support over the next two years as the British economy went through a period of deflation that culminated in a devaluation, at the same time that the merging of businesses was encouraged. Unemployment rose significantly, but when W ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
The National Archives (United Kingdom)
The National Archives (TNA; ) is a non-ministerial government department, non-ministerial department of the Government of the United Kingdom. Its parent department is the Department for Culture, Media and Sport of the United Kingdom, United Kingdom of Great Britain and Northern Ireland. It is the official National archives, national archive of the UK Government and for England and Wales; and "guardian of some of the nation's most iconic documents, dating back more than 1,000 years." There are separate national archives for Scotland (the National Records of Scotland) and Northern Ireland (the Public Record Office of Northern Ireland). TNA was formerly four separate organisations: the Public Record Office (PRO), the Royal Commission on Historical Manuscripts, Historical Manuscripts Commission, the Office of Public Sector Information (OPSI) and Office of Public Sector Information, His Majesty's Stationery Office (HMSO). The Public Record Office still exists as a legal entity, as ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
